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FCRA Basic Certification - Advanced (Version 1) Questions and Answers 100% Solved
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FCRA Basic Certification - Advanced (Version 1)
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FCRA Basic Certification - Advanced(Version 1)
True/False: Resellers maintain their own database of information, which they combine
with information from other CRA's - answerFalse
Which of the following is a reasonable procedure that a CRA could take to ensure that
an end user has a permissible purpose to obtain consumer reports?
A. On site inspection of the end user's place of business
B. Checking the end user's references
C. the end user's business license and corporate formation documents.
D. All of Above
E. CRAs are not required to reasonably ensure that end users have a permissible
purpose. - answerD. All of Above
True/False: Consumers must provide consent to the preparation of an investigative
consumer report. - answerTrue
True/False: An "end user" is an entity that processes and reports information to an
employer or credit grantor. - answerFalse
Employers do not have to comply with the adverse action requirements if:
A. The criminal history disclosed on a consumer report would automatically disqualify
the job applicant from employment, e.g., a conviction for a violent crime like murder or
rape.
B. The job applicant is not a U.S. citizen.
C. The employer has U.S. operations, but is headquartered overseas.
D. It did not obtain a consumer report on the job applicant.
E. None of the above. - answerD. It did not obtain a consumer report on the job
applicant.
Consumers are permitted to dispute the "completeness or accuracy" of any information
in their file. In response, a CRA must do what?
A. Issue an immediate refund to the end user.
B. Notify the end user of the dispute within 24 hours.
C. Conduct a reasonable investigation to determine whether the disputed information is
accurate.
, D. Request a copy of the pre-adverse action letter provided to the consumer. -
answerC. Conduct a reasonable investigation to determine whether the disputed
information is accurate.
True/False: Under the FCRA, resellers are not required to conduct traditional
reinvestigations in the event they become aware of a consumer dispute, but must
determine whether the alleged inaccuracy is their fault.
Answer - answerTrue
If consumers want to dispute the accuracy of information contained in their consumer
report:
A. They can make the dispute with the CRA.
B. They must make the dispute with the end user and cannot make the dispute with the
CRA. - answerA. They can make the dispute with the CRA.
True/False: Some courts have held that employers must comply with the FCRA and
have a permissible purpose when they obtain background checks on independent
contractors - answerTrue
True/False: If a private investigator obtains information about a job applicant solely by
conducting telephone interviews with the applicant's friends, the resulting report is an
investigative consumer report. - answerTrue
In which of the following circumstances may a CRA report negative credit information
that is more than 7 years old?
A. Where a job applicant is expected to make more than $50,000 per year.
B. Where a consumer is applying for a $100,000 loan to by a Porsche.
C. Where a consumer is applying for a life insurance policy in the amount of $500,000.
D. All of the above. - answerC. Where a consumer is applying for a life insurance policy
in the amount of $500,000.
True/False: Under the FCRA, consumer reports cannot include arrest data that is older
than seven (7) years. - answerTrue
Even though the FCRA is a federal statute, individuals can file FCRA lawsuits in state
courts
A. True, but only if they also assert a state law claim, like defamation.
B. True.
C. True, but only if a job applicant was applying for a job with a state government.
D. False. - answerB. True
True/False: A CRA is not required to comply with the FCRA if it only reports publicly-
available information, such as judgments and tax liens. - answerFalse
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